Russian citizens who moved to Armenia with their capital due to the Ukrainian war and sanctions imposed on Russia are gradually leaving the country, but the positive impact on the Armenian economy remains.
This was stated in an interview with BMG by Armenian economist Ani Avetisyan, who studies the economic consequences for the South Caucasus countries in the context of the Ukrainian war.
"Yes, Russian citizens are gradually reducing or will leave Armenia, but the results of their active activities in the economy, social, and even cultural sectors will still be felt in the future. Many may leave, but what remains is already a plus for the Armenian economy," said Avetisyan, adding that the Armenian government should focus on their integration.
"Armenia as a country has suffered from emigration for a long time. And here it has received an influx of people, highly qualified personnel, especially with their capital. As a result, the country gets both demographic and economic effects. Even if Russians employed in the IT industry stay, it's a big plus for an industry that has been growing rapidly in recent years," explained the economist.
According to her, the activities of Russians in the social and even cultural sectors in Armenia could also be a separate topic for research.
"This issue is not studied at all, but we see that they are quite actively involved in the public, social, and cultural life of the country, doing volunteer work, coming up with interesting initiatives, and changing the environment," believes Ani Avetisyan.
However, in her view, the economic effect of Russian citizens moving to Armenia will not disappear so quickly; it will make itself felt in the short and even medium term.
"After all, these people came to Armenia, they didn't sit idle, they created companies, started businesses, transferred their capital to Armenia. All this is just starting to work and gain momentum, the effect of which we will still feel in the future. This aspect needs to be taken into account in calculations," she emphasized.
After the start of the war in Ukraine, Armenia became one of the main destinations for Russian emigrants. Over the past two years, tens of thousands of Russians have moved to Armenia. Local authorities note that the presence of Russian emigrants has had a positive impact on the country's GDP growth by stimulating investments and domestic demand.
As a result, in 2022, the country's GDP grew by 12.6%, and in 2023, by 8.7%, which has led many experts to speculate that the Armenian economy is growing faster than its real potential.
